KD Current Account For Individual & Business : CBK Commercial Bank of Kuwait

Name of the Organization : Commercial Bank of Kuwait
Type of Facility : KD Current Account For Individual & Business
Country : Kuwait

Website : http://www.cbk.com/en/retail-banking/index.cfm?c=179

KD Current Account :

What is it?:
A non-interest earning account which is used by the customer mainly for managing financial activities through the Bank.

Related : CBK KD/FC Saving Account : www.statusin.org/5889.html

Who Qualifies? :
Any customer wishing to manage business and financial activities through the Bank.

Why is the product used?:
As a practical mean of conducting financial transactions through the account.

Features:
** Minimum deposit to open the account KD 100/- with no maximum.
** Non-interest earnings.
** Customer receives a cheque book.
** According to the customer’s instructions, statements are sent daily, weekly, fortnightly, monthly, quarterly, semi annually or annually.
** Overdraft facilities are available.
** Certified cheque facilities are available.
** Stop-payment facilities on cheques are available, subject to Kuwait commercial law.
** Visa or Master card facilities are available if the customer meets certain Bank requirements.
** ATM (Starlink) card is available.
** The privilege of applying for loans and access to other products.

Benefits:
** Facilitates business and personal transactions in Kuwait and abroad.
** Security against lost cheques.
** The customer will be aware of the movement of account through statements issued in English or Arabic, as per request.
** Standing instructions facilities are available.
** The account can be blocked as collateral.
** Unlimited number of deposits and withdrawals.

KD Current Account (Business):
What is it?:
A non-interest earning account which is used by companies and business establishments mainly for managing their financial activities and business deals through the Bank.

Who Qualifies?:
Corporates and Establishments.

How is the product used?:
As a practical mean of conducting financial transactions through the account.

Features:
** The minimum deposit to open the account is KD 100/- ,with no maximum.
** Non-interest earnings.
** The customer receives a cheque book.
** According to the customer’s instructions, statements are sent daily, weekly, fortnightly, monthly, quarterly, semi annually or annually.
** Overdraft facilities are available.
** Certified cheque facilities are available.
** Stop-payment facilities on cheques are available subject to Kuwait commercial law.
** Visa or Master Card facilities are available, if the customer meets certain bank requirements.
** ATM (Starlink) card is available upon customer request with the condition that the account type is sole proprietorship.
** Accounts are categorized according to the nature of the enterprise, (e.g. W.L.L., partnership, sole proprietorship).
** Credit facilities are available, e.g. letter of credit, letter of guarantee.
** The customer has the privilege of applying for loans and access to other products.
** A commission of 2 KD will be deducted if average monthly balance drops below 100 KD

(for non individual accounts)

Benefits:
** Facilitates business and personal transactions in Kuwait and abroad.
** Security against lost cheque.
** The customer will be aware of the movement of the account through statements issued in English or Arabic, as per request.
** Standing instruction facilities are available.
** The account can be blocked as collateral by the customer.
** Unlimited number of deposits and withdrawals.